RBKB vs SHMD: Correlation
Measured on weekly returns over the past three years, Rhinebeck Bancorp, Inc. (RBKB) and SCHMID Group N.V. - Class A (SHMD) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RBKB and SHMD?
Across a 3-year window, the weekly returns of RBKB and SHMD correlate at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.25). Stretching to 5 years gives n/a, with an annualized covariance of -700.4 %².
Among the 13 assets we track against RBKB, SHMD sits near the bottom by co-movement, at rank #12. Neither side won the trailing year by much: +31.5% against +28.8%. One caveat on sizing: SHMD is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
RBKB vs SHMD: side by side
| RBKB (Rhinebeck Bancorp, Inc.) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +31.5% | +28.8% |
| 5-year return | +64.9% | n/a |
| Volatility (ann.) | 29.5% | 96.9% |
| Beta vs S&P 500 | 0.08 | 0.77 |
| Max drawdown (3Y) | -30.0% | -69.6% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RBKB | SHMD |
|---|---|---|
| 2022 | -14.5% | – |
| 2023 | -11.6% | – |
| 2024 | +20.1% | – |
| 2025 | +24.3% | +101.1% |
| 2026 | +46.8% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RBKB and SHMD good diversifiers for each other?
Yes. With a correlation of -0.25, RBKB and SHMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RBKB and SHMD?
The RBKB/SHMD correlation stands at -0.25 on a 3-year window (1 year: -0.36, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SHMD a good diversifier for RBKB?
Yes. With a correlation of -0.25, RBKB and SHMD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: RBKB correlations · SHMD correlations
